Review: Amex EveryDay® Preferred Credit Card

Average initial bonus. Spending at least $1,000 during the first three months you have the Amex EveryDay Preferred Credit Card gets you 15,000 points, which are worth about $128, according to WalletHub research. For context, that’s below the average bonus offered in terms of points or miles (22,318) and slightly less valuable than the average cash-back bonus ($206.76), according to WalletHub’s latest Credit Card Landscape Report. In other words, you shouldn’t get Amex EveryDay Preferred for its initial bonus alone.

Fairly complicated regular rewards. There are a lot of moving parts in the Amex EveryDay Preferred Card’s ongoing rewards offer. Its base rates are 3 points per $1 spent on groceries, 2 points per $1 on gas, and 1 point per $1 on everything else. But the top-end rate only applies to the first $6,000 you spend at U.S. supermarkets each year. Bonus fuel rewards are only available at U.S. gas stations. And that’s not all. The number of purchases you make also matters. If you make at least 30 purchases in a month, you’ll get a 50% bonus on the rewards you earned that month. So the 3-point supermarket earning rate becomes 4.5 points, the 2-point gas rate becomes 3 points and so on. As a result, if you use this card every day you’ll earn the equivalent of 3.8% cash back on groceries, 2.6% back on gas and 1.3% back on everything else. All three earning rates are above the market average of 1.07% cash back. But it’s clear people whose biggest everyday expenses are gas and groceries will get the most out of EveryDay Preferred.

Steep annual fee. Most of the best rewards credit cards either lack annual fees entirely or waive them the first year an account is open. And the average credit card market-wide charges $19.46 per year. Amex EveryDay Preferred is a bit different, charging a $95 annual fee from the get-go. Unfortunately, its rewards have a tough time living up to the fixed cost.

Nothing special financing-wise. Amex EveryDay Preferred offers a 0% for 12 months intro APR on balance transfers after your account is open, which is slightly longer than average for a 0% balance-transfer card. But hundreds of other credit cards have 0% intro rates for at least as long, and many of them lack EveryDay Preferred’s balance-transfer fee - 3% (min $5). Furthermore, the Amex EveryDay Preferred Card’s regular APR has the potential to be about average for an excellent-credit credit card. But it could also be significantly higher than the average among credit cards for people with fair credit. Either way, it won’t do you any real favors if you carry a balance from month to month.

Ill-suited for international spending. Not only is American Express accepted in far fewer countries than Visa and Mastercard, but this particular Amex also charges a 2.7% foreign-transaction fee. And while you may not travel abroad or make purchases through internationally based merchants every day, using Amex EveryDay Preferred when you do would definitely be a costly mistake. Fortunately, there are many no foreign transaction fee credit cards to choose from.

Good credit or better required. Not just anyone can get approved for the Amex EveryDay Preferred Card given its good-or-excellent credit requirement. So you’d be wise to check your latest credit score on WalletHub before you apply – if you apply.

4.1 / 5

John Kiernan, Credit Card Editor
Jun 3, 2020

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Amex EveryDay® Preferred Credit Card's Rewards

Earn 15,000 Membership Rewards® Points after making $1,000 in purchases in the first 3 months of Card Membership.

3x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 2x points at U.S. gas stations and on travel booked through amextravel.com; 1x points on other purchases. Terms and limitations apply.

Use your Card 30 or more times on purchases in a billing period and earn 50% more points on those purchases less returns and credits. Terms and limitations apply.

Use points for rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment. You can transfer points to a selection of frequent traveler programs.

You can use Membership Rewards® points towards eligible charges you make on your Card, such as retail, dining, entertainment and more.

Amex EveryDay® Preferred Credit Card's Key APRs & Fees

Purchase Intro APR

Transfer Intro APR

Regular APR

0%
for 12 months

0%
for 12 months

12.99% - 22.99% (V)

Purchase Intro APR

0%
for 12 months

Transfer Intro APR

0%
for 12 months

Regular APR

12.99% - 22.99% (V)

ANNUAL FEE

$95

BALANCE TRANSFER FEE

3% (min $5)

Amex EveryDay® Preferred Credit Card's Additional Info

MAX LATE FEE

$40

MAX OVERLIMITFEE

None

MAX PENALTY APR

29.24% (V)

GRACE PERIOD

25 days

ONLINE RESPONSE

Yes

CASH ADVANCEAPR

25.24% (V)

CASH ADVANCEFEE

5% (min $10)

FOREIGNTRANSACTION FEE

2.7%

SMART CHIP

Yes, chip-and-PIN

0% Introductory APR for 12 months on balance transfers requested within 60 days of account opening.

Two different options to pay down your balance. Take advantage of the Pay It® option to pay small purchase amounts or you can Plan It® to split up large purchases, for a fixed monthly fee. Terms Apply.

Get free 2-day shipping on eligible items at a growing network of 100+ online stores with ShopRunner. Enroll in complimentary membership as a benefit of your eligible Card.

Both cards are good. Still, when it comes to Amex Everyday Preferred vs Blue Cash Preferred, I'll choose the former for a greater return in value. Assuming you use your card a lot (30 or more times on purchases in a billing period to earn 50% more points), Amex's Membership Rewards points for the same purchases have a better value than the cash back you get with the Blue Cash Preferred.

This is also one of my many use cards,I love the ability to use my points for different things and use them to pay for purchases,,Amex has been super easy to work with and quick using the chat feature,,they are usually pretty good with credit limit increases and APR reductions as your file improves...I was at low 700's on initial approval and had a 18.% range Apr with a baddie on file, when baddie left jumped to 760+ and was able to lower APR to 8% before these raises started...I'm still not complaining it comes in handy at the times when I did carry a balance a few mths....Also has long term 0% period..…show more

This reward program is a scam.1 To 1 Rewards is only limitedI went to claim reward points and they charged me 167 points per dollar because I didn't use there travel program through them which they obviously get a kick back from.I asked the agent when signing up and was assured the program was 1 for 1.Very disappointed with this company and will start to use my "NO Hassle Rewards" card from here on out!!Shame on you American express!!!…show more

BEWARE!! BAIT AND SWITCH! AMEX is a scam! They do NOT provide reward points breakdown in any manner to the customer. They only way for you to know what you get back for points is to call and inquire about each purchase, they do not provide this for the customer to review online or on print out or in the statement! There is no way to verify you are getting the points they advertise! For example: I purchased an ipad from Apple, this is one of the "additional reward points retailers" that you are supposed to get 6% back for. When I called and did an online chat with amex they stated that I only received 1% because it was Paid for online at apple.com instead of in the actual store, even though I picked the item up AT THE STORE! Such a scam!! I spend thousands of dollars with the card and most points back was 1% even though the terms state otherwise. The places you can earn 6% back on are so few I can count them on 1 hand. Check out their terms here, even though I provided them with their terms they still refused! Many places will not take amex anyway! Your better off getting 2% for every purchase from other cc companies!…show more

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We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.

Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.

Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.